EBRD funds 204 MW solar project in Kozani

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The European Bank for Reconstruction and Development (EBRD) is investing EUR75 million (US$88.3 million) in the Eurobond tap issuance by Hellenic Petroleum (HELPE), for its solar projects in Greece.

The total funds of EUR100 million (US$117.7 million) raised will enable HELPE to finance the construction of 18 solar photovoltaic (PV) plants with a total installed capacity of 204 MW in Kozani, Western Macedonia, the country’s most coal-dependent region.

The solar park will be built close to existing coal-fired power plants that are being phased out and is expected to reduce CO2 emissions by 320,000 tonnes annually.

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